Ms. Yellen, in downplaying concerns about financial stability, said the economic recovery remained incomplete and the Fed’s help was necessary.
“Too many Americans remain unemployed, inflation remains below our longer-run objective and not all of the necessary financial reform initiatives have been completed,” Ms. Yellen told the Senate Banking Committee.
Ms. Yellen’s testimony is likely to reinforce a sense of complacency among investors who regard the Fed as convinced of its forecast and committed to its policy course. She reiterated the Fed’s view that the economy will continue to grow at a moderate pace, and that the Fed is in no hurry to start increasing short-term interest rates.
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Janet Yellen Tells Congress That Federal Reserve Will Continue to Help Economy
Ms. Yellen, in downplaying concerns about financial stability, said the economic recovery remained incomplete and the Fed’s help was necessary.
“Too many Americans remain unemployed, inflation remains below our longer-run objective and not all of the necessary financial reform initiatives have been completed,” Ms. Yellen told the Senate Banking Committee.
Ms. Yellen’s testimony is likely to reinforce a sense of complacency among investors who regard the Fed as convinced of its forecast and committed to its policy course. She reiterated the Fed’s view that the economy will continue to grow at a moderate pace, and that the Fed is in no hurry to start increasing short-term interest rates.
Read it all.